Crown Castle Announces Comprehensive Review Of Fiber Business, Search For New CEO

(RTTNews) - Crown Castle Inc. (CCI) announced Wednesday a comprehensive review of the Company's fiber business, search for a new CEO and the addition of two new independent directors to the Company's Board.

The initiatives were announced in connection with a cooperation agreement with Elliott Investment Management L.P., pursuant to which Crown Castle will appoint Jason Genrich, Senior Portfolio Manager at Elliott, and Sunit Patel, former Chief Financial Officer of Level-3 Communications and Executive Vice President of T-Mobile, to the Company's Board of Directors.

In connection with the Company's previously announced CEO transition, the Board has established a CEO Search Committee to conduct the search to identify Crown Castle's next CEO.

In connection with today's appointments, Benjamin Moreland and Maria Pope will be stepping down from the Board. As a result, the Board will be comprised of 12 directors, 11 of whom are independent.

As previously announced, Jay Brown will step down as a Director of the Company, effective January 16, 2024.